Greenwood Housing Market Information

With a population of 9,322, 3,176 total housing units (homes and apartments), and a median house value of $132,992, house prices in Greenwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Greenwood, accounting for 86.49% of the city's housing units. Other types of housing that are prevalent in Greenwood include duplexes, homes converted to apartments or other small apartment buildings ( 7.55%), large apartment complexes or high rise apartments ( 4.58%), and a few mobile homes or trailers ( 1.12%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Greenwood. Owner-occupied housing accounts for 70.59% of Greenwood's homes, and 73.77% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Greenwood built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Greenwood built between 2000 and later ( 24.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.39%). There's also some housing in Greenwood built before 1939 ( 4.58%).

Greenwood Home Appreciation Rates

Appreciation rates for homes in Greenwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.26%, which ranks in the top 40% nationwide. This equates to an annual average Greenwood house appreciation rate of 0.80%.

Over the last year, Greenwood appreciation rates have trailed the rest of the nation. In the last twelve months, Greenwood's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greenwood were at -3.22%, which equates to an annual appreciation rate of -12.26%.

Notably, Greenwood's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arkansas, our data show that Greenwood's latest annual appreciation rate is higher than 50% of the other cities and towns in Arkansas.

Average Home Values

Median Home Value:
$132,992

Greenwood, AR HOME PRICES

Value Range

> $1,085,000

0.1

$814,001 - $1,085,000

0.4

$542,001 - $814,000

0.7

$434,001 - $542,000

1.7

$325,001 - $434,000

1.8

$217,001 - $325,000

15.1

$108,001 - $217,000

47.4

$54,001 - $108,000

26.6

$0 - $54,000

6.3

High for AR
Average for Nation

Value
Relative to Nation

Value
Relative to State

59.6287838866444

21.830985915493

Number Of Homes And Apartments:
3,176

Greenwood Appreciation Rates

Appreciation Rates

NeighborhoodScout's® Exclusive Home Appreciation Rates

NeighborhoodScout reveals the home appreciation rates for every city, town,
and even most neighborhoods in America.

NeighborhoodScout has calculated and provides home appreciation rates as a
percentage change in the resale value of existing homes in that city, town
or neighborhood over the latest quarter, the last year, 2-years, 5-years,
10-years, and even from 2000 to present. We show both the cumulative
appreciation rate, and the average annual appreciation rate for each time
period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%).
We also show how each city, town or neighborhood's appreciation rate compares
to other cities, towns and neighborhoods in the nation, and within the same
state (e.g., 9 relative to the nation, 5 relative to California [10 is highest]).
This makes comparisons of house appreciation rates equally easy for professional
investors and individual homebuyers. In this example, the neighborhood is
one of the highest appreciating in the nation over the last 5-years, but is
only average in appreciation for the same period relative to other neighborhoods
in the state of California.

About the appreciation rate data

Our data are designed to capture changes in the value of single-family homes
at the city, town and even the neighborhood level. Different neighborhoods
within a city or town can have drastically different home appreciation rates.
NeighborhoodScout vividly reveals such differences. Our data are built upon
median house values in each neighborhood, and combine data from the United
States Bureau of the Census with quarterly house resale data. The data
reflect appreciation rates for the neighborhood overall, not necessarily
each individual house in the neighborhood.

Our data are calculated and updated every three months for each neighborhood,
city and town, approximately two months after the end of the previous quarter.
Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage
transactions to the FHFA. These data are combined with the data of the
previous 29 years to establish price differentials on properties where more
than one mortgage transaction has occurred. The data are merged with
neighborhood-specific median house values from the Census Bureau using
NeighborhoodScout's proprietary algorithms developed by Dr. Schiller,
creating an updated historical database that is then used to estimate the
appreciation rates for each city, town and neighborhood within each time
period. These resultant neighborhood appreciation rates are a broad measure
of the movement of single-family house prices. The appreciation rates serve
as an accurate indicator of house price trends at the neighborhood level.

How is the home appreciation data calculated?

Neighborhood appreciation rates from NeighborhoodScout are based on both
median house value data reported by respondents via the U.S. Bureau of the
Census, and a weighted repeat sales index, meaning that they measure average
price changes in repeat sales or refinancings on the same properties. This
information is obtained by reviewing repeat mortgage transactions on
single-family properties whose mortgages have been purchased or securitized
by Fannie Mae or Freddie Mac (by the FHFA). Then proprietary algorithms
developed by Dr. Schiller, NeighborhoodScout's founder, are applied
to produce neighborhood appreciation rates. Appreciation rates are updated
by NeighborhoodScout each quarter as additional mortgages are purchased or
securitized by Fannie Mae and Freddie Mac. The new mortgage acquisitions
are used to identify repeat transactions for the most recent quarter, then
are fed into NeighborhoodScout's search algorithms.

What transactions are covered in the appreciation rate data?

Neighborhood appreciation rate data are based on transactions involving
conforming, conventional mortgages. Only mortgage transactions on single-family
properties are included. Conforming refers to a mortgage that both meets
the underwriting guidelines of Fannie Mae or Freddie Mac and that doesn't
exceed the conforming loan limit, a figure linked to an index published by
the Federal Housing Finance Board. Conventional means that the mortgages
are neither insured nor guaranteed by the FHA, VA, or other federal government
entity.

Mortgages on properties financed by government-insured loans, such as FHA
or VA mortgages, are excluded, as are properties with mortgages whose principal
amount exceeds the conforming loan limit. Mortgage transactions on condominiums
or multi-unit properties are also excluded. As such, NeighborhoodScout does
not produce appreciation rates for neighborhoods that consist solely of
renters or have no single-family homes (dwellings without an entrance directly
to the outside).